Abstract

Virtue ethics is an ancient subject primarily established by Aristotle and the Stoics. The ancients considered that development of personal virtue was necessary to achieve a life of “contentment,” and this is certainly relevant for the lives of modern managers, and their business interactions. This chapter distinguishes between personal moral virtues, and ethical managerial decisions. It examines the question, “Might virtuous managers still make unethical decisions?” In addition, the set of virtues required of management to implement a program of “harmony in pursuit of a moral community” is reviewed. An explanation of how this program establishes constraints on the pursuit of shareholder wealth (the profit motive) is also reviewed.